Steady Growth in Australian Retail Sales

According to the latest report from the Australian Bureau of Statistics (ABS), retail sales in Australia experienced a modest increase of 0.2% month-on-month in February. This figure, slightly below expectations, brings the monthly turnover to 37.1 billion Australian dollars, marking a 3.6% rise compared to February 2024.

Food-Related Spending Drives the Rise

Robert Ewing, ABS head of business statistics, highlighted that retail spending in February remained steady, with food-related expenditures leading the growth. "Following promotion-based growth across the December quarter, spending on household goods has begun to moderate, reflecting lower discretionary spending at the start of the year," Ewing explained.

Mixed Results Across Industries

The report also noted mixed results across different retail industries, underscoring the varied consumer spending patterns at the beginning of the year.